You are watching: Can you say what your strategy is
Here’s my take on the write-up via some essential components pulled out for reference.Summary
The essence of the “Can You Say What Your Strategy Is?” is that the a lot of successful service methods are clear and succinct and also, yet, this characteristic of business tactics is rare or unprevalent at ideal. Thunstable their experience, the authors found that the majority of executives cannot summarize their company strategy and also are unsure if their colleagues or down-line leaders understand in the same means the senior executives carry out.Key Take-aways
“Executives assume that the efforts explained in voluminous documentation . . . will certainly encertain competitive success”. There is hazard in assuming that a mountain of information or pperiods of presentation or documentation will certainly result in strategic alignment and also activity. In my suffer, that largely outcomes in even more cabinet area in the office. It’s not the variety of peras that counts, it’s the message.“A well-understood statement of strategy aligns behavior” and also “creates a guiding light for behavior”. I think this is are cornerstone principle. This characteristic of aligning habits or allowing priorities to be set and also decisions to be made is so critical to effective strategy execution. This advantage isn’t available just for astronomical teams in big-organization. A clear strategy statement have the right to assist little teams or also a team of one (the owner)! When the strategy is clear, the decision-making is less complicated.Tright here are 3 components to an excellent strategy statement, according to the authors — objective, scope and also advantage. Objective: The certain ‘ends’ or outcomes desired from the strategy and also the time-frame for success (familiar through SMART goals?). Scope: The landscape or segment wbelow the firm will certainly contend (e.g. customer). Advantage: What your organization will carry out differently or better (clarity around what provides your agency different)
I use and recommfinish a three-piece story-line — Situation, So What?, Actions. Believe it or not, my three-piece format and also what the authors outline at HBR are not so various and also will cause exceptionally comparable statements of strategy. Basically, what you have in both styles are a location for the customer or market
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Can You Say What Your Strategy Is?
by David J. Collis, Michael G. Rukstad11 peras. Publication date: Apr 01, 2008. Prod. #: R0804E-PDF-ENG
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